Price became And broke Major Support (1.59) in 2010. Price became to retest new found resistance (1.59) but was unsucessful breaking this level.
200 Acting as Magnetic Resistance (1.59) Level
50 Price has recently pushed below this level.
Resistance Was tested in (2014,2015 and 2016) proving uncessful, with agressive Rejection.
0.382 Recently Broken ( )
Formation of Lower Lows and Lower Highs. (4 Arrows as Shown on chart) Forming till Present
200 Acting as Magnetic Support (2015 - Present) See Chart , Recently Price Has Pushed past 200 support with strong Candle.
(10,20,50) Currently Above Price. ( )
Lower (As seen on chart) Also Broken, Also signalling Movement
200 MA Acting as magnetic Resistance, Signalling
Duration: Long Term
Decision: I am deciding to Short this Pair. I believe the future of this pair being for long time due to the common signals.
Sell Stop: 1.4323
TP 1: 1.4078
TP 2: 1.3929
Thank you for viewing my idea. If you decide to take this trade,please leave a comment and a thumbs up. I will be happy to stay in touch to see how the setup is planning out.
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